Jan-2017: Zimbabwe has announced that it has secured a 60 MMUSD financial package for the Lupane’s coal bed methane gas concessions. The financial package was awarded to the Zimbabwe Mining Development Corporation, and is expected to boost the exploitation of coal bed methane gas in the Lupane-Lubimbi area. Gas reserves were discovered in the area a few decades ago, but commercial exploitation has failed to take off, until now.
Jan-2017: Eland Oil & Gas PLC has finalised the implementation of crude oil export from the Opuama field (OML-40, onshore Nigeria) through shipping. Production has restarted into the main storage vessel, and the shuttle vessel will shortly arrive on site to evacuate the oil. Eland is initially producing from the Opuama-3 well only, which tested at 10 000 stb/d oil production on 30-Jan-2017. The production system can handle a higher capacity when other wells are brought online.
Jan-2017: Nigeria has seized the OPL-245 oil block from Shell and Eni, and will prosecute both companies in a 1.2 billion USD corruption scandal. A federal high court ruling in January 2017 ceded control of the oil block to the Nigerian government. The petition submitted to the court says Shell and Eni bought the block in 2011, knowing the transaction was “fraught with fraud” and that the 1.2 billion USD payment to former petroleum minister, Dan Etete, and his allies was a bribe. The state oil company received only 210 MMUSD from the deal. The government is now preparing further charges of “conspiracy, bribery, official corruption and money laundering” against both companies. Criminal charges have also been filed against both companies and several executives in an Italian court in Milan.
Jan-2017: Sound Energy expects first gas production from its Tendrara licence in eastern Morocco in 2Q 2019. The project will supply gas to two power plants during Phase 1, and enable them to stop burning oil.
Jan-2017: Eni has signed an interim extension agreement with BW Offshore to lease the Abo FPSO vessel until 31 March 2017. The short-term extension was agreed to secure operational continuity during ongoing negotiations. The Abo field, located in 1640 – 2620 feet (500 – 800 m) water depth offshore Nigeria, came online in 2003, and was the first producing deep water field in Nigeria. The FPSO vessel has a storage capacity of 900 000 barrels of oil, an oil production capacity of 45 000 stb/d, a water injection capacity of 30 000 stb/d, and a gas injection capacity of 35 MMSCFD.
Jan-2017: The Government of Rwanda has announced plans to resume petroleum exploration in Lake Kivu in March 2017, after the first round was not successful. The exploration activities will be carried out between March 2017 and June 2017. Geochemical and geological surveys will be completed to evaluate the presence of hydrocarbons in the lake. Rwanda passed a petroleum exploration law in 2016, which states that petroleum exploration and production licences will be valid for three years, and investor licences will be valid for 25 years.